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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
UVINZA (PTY) LTD |
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Registered Office : |
84 Main Road, R103 Rosetta,
Kwazulu Natal 3301 |
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Country : |
South Africa |
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Date of Incorporation : |
11.05.2012 |
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Com. Reg. No.: |
2012/175943/07 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in general merchandise
such as furniture, mirrors, carpets |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
South Africa ECONOMIC OVERVIEW
South Africa is a middle-income, emerging market with an abundant
supply of natural resources; well-developed financial, legal, communications,
energy, and transport sectors and a stock exchange that is the 15th largest in
the world. Even though the country possesses modern infrastructure that support
a relatively efficient distribution of goods to major urban centers throughout
the region, some components retard growth. The economy began to slow in the
second half of 2007 due to an electricity crisis. State power supplier Eskom
encountered problems with aging plants and meeting electricity demand necessitating
"load-shedding" cuts in 2007 and 2008 to residents and businesses in
the major cities. Subsequently, the global financial crisis reduced commodity
prices and world demand. GDP fell nearly 2% in 2009 but has recovered since
then. Unemployment, poverty, and inequality remain a challenge, with official
unemployment at nearly 25% of the work force. State power supplier Eskom has
built two new power stations and installed new power demand management programs
to improve power grid reliability. South Africa's economic policy has focused
on controlling inflation, however, the country has had significant budget
deficits that restrict its ability to deal with pressing economic problems. The
current government faces growing pressure from special interest groups to use
state-owned enterprises to deliver basic services to low-income areas and to
increase job growth.
|
Source : CIA |
Registered Name: UVINZA (PTY) LTD
Requested Name: UVINZA (PTY) LTD T/S THE UGLY DUCKLING
Trade Names: THE
UGLY DUCKLING
Physical Address: 84 Main Road, R103 Rosetta,
Kwazulu Natal 3301
Postal Address: P. o. Box 181
Kwazulu Natal 3301
Country: South
Africa
Phone: 27-82749676/828749676/33267726/332677263
Fax: 27-866854629
Email: uvinza@gmail.com/
info@theuglyduckling.co.za
Website: www.theuglyduckling.co.za
Financial Index as of December 2013 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 11-May-2012
Reg. Number: 2012/175943/07
VAT Number: 4790124061
Nominal Capital ZAR. 1,000
Subscribed Capital ZAR. 1,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Rolfe Bettison MD
Mrs. Susan Bettison Director
Full Names ROLFE
BETTISON
Status Active
Profession Managing
Director
Country of residence South
Africa
Full Names SUSAN
BETTISON
Status Active
Profession Director
Country of residence South
Africa
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
3 in South Africa Branches of the firm
Registered to operate as dealers in general merchandise such as
furniture, mirrors, carpets
Imports: Asia,
Middle East, Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 25-90 days (20%), invoices.
Main Customers: General
Public
Employees: 10
employees.
Vehicles: 3
motor vehicles.
Territory of
sales: South
Africa
Location: Rented
premises, 1,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: South African Rand (ZAR.)
Approx. Ex. Rate: 1 US Dollar = 9.88 South African Rand
Projected
Fiscal Year End: December 31, 2013
Projected Inflation: According to information
given by independent sources, the inflation at December 31st, 2013 was of
13%.
Financial
Information not Submitted
Profit and Loss (expressed in ZAR.)
2013
Projected Sales 1,500,000
Bank Name: ABSA BANK
Branch: South Africa
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.